Home Buyers, Stop and Read before you make that first call!

You may find yourself working with someone who is actually negotiating for the seller, not you the buyer.  One thing that is constant throughout the U.S. is the obligation for all REALTORS® to comply with the National Association of REALTORS® Code of Ethics.

A Buyers Agent refers to someone with whom you’ve established a formal agency relationship—someone who represents your best interests in a real estate transaction and owes you fiduciary responsibilities.  Don’t assume that you will automatically receive fiduciary responsibilities from the agent you’re working with as a potential home buyer.

Do you want to be buyer-customer or a buyer-client?

Compare the below and decide for yourself

Unless you have a buyers representation agreement signed, all Realtors in the state of Texas work for the seller and are obligated to give fiduciary duties to the seller. 

 

If you are a CUSTOMER (no agency relationship), an agent will:

If you are a CLIENT (agency relationship), your agent will:

Maintain loyalty to the seller’s need

Pay full attention to your needs

Tell the seller all that they know about you

Tell you all that they know about the seller

Keep information about the seller confidential

Keep information about you confidential

Focus on the seller-client’s property

Focus on choices that satisfy your needs

Provide just the material facts

Provide material facts as well as professional advice

Only provide price information that supports the seller’s listing price

Provide price counseling based on comparable properties and their professional insights

Protect the seller

Protect and guide you

Negotiate on behalf of the seller

Negotiate on your behalf

Attempt to solve problems to the seller’s advantage and satisfaction

Attempt to solve problems to your advantage and satisfaction

Call the Agent on the sign or interview a buyers agent?ImageThe best way to be certain your interests are being considered and protected is to sign a buyer agency agreement with a trained buyer’s rep, which clearly establishes client-level services and spells out what services you can depend upon.  It will cost you nothing but time well spent.

Questions to ask

Real estate agency relationships, like all business relationships, can be formed in a number of ways. In order to help talk through your options, here are several questions to ask your buyer’s rep:

  • Do you represent buyers, sellers or both?
  • What services are provided to (or excluded from) me?
  • When does representation begin? When does it conclude?
  • If I’m not ready to commit to your normal term, can you offer me a one-day buyer agency agreement or a 24-hour opt-out clause?
  • How is dual agency addressed in your firm?

Don’t buy a home without your interests being represented.  If you are not happy with the service that a particular “buyers agent” is providing you can terminate your agreement with a “Termination of Buyer/Tenant Representation Agreement”.

Be an informed buyer.

Courtesy of;

Key Real Estate Services

Malisa Spivey, Realtor/Professional Real Estate Consultant

254.495.7735

515 N. Hewitt Dr., Hewitt, TX  76643

www.MovewithIRG.com

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Waco Overall Market Stats for 2006 – 2012

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The above numbers are taken from the Waco Association of Realtors MLS, and are strictly based on residential sales only (does not include farm/ranches or land).  These numbers are deemed accurate but not reliable. (Zip Codes include – 76701,76704,76705,76706,76707,76708,76710)

Malisa Spivey
Key Real Estate Services
E-PRO, SFR – Realtor/Property Manager
515 N. Hewitt Drive * Hewitt, Texas 76643
(254) 495-7735 – Cell
(254) 523-4247 – Fax


Rise and Fall of the Market 2012 – Hewitt TX

Wonder when the market really took a dump?  I would have to predict that according to the average sale prices of homes it was 2009.  From the look of the trend, it appears we will only go up from here.  My opinion “Gone are the days of thinking that you will be able to get something for nothing”.  Home prices have not decreased overall, the number of homes being sold have, so that tells us that supply and demand are starting to take hold here.  We all know what happens when you have a shortage of house and more than enough people to buy.  From the graph we can tell that the number of homes sold have dropped since 2009, and that may have to do a lot with the major changes in lending.  We all know what happens with Supply vs. Demand, only time will tell whether or not this year we will that issue.  Interest rates are great, and now would be the time to consider purchasing if that has been on your mind.  If you are tired of being sold too, check us out, we are professional Real Estate Consultants who put our clients interests first by making sure theirs is a good sound purchase.

The above numbers are taken from the Waco Association of Realtors MLS, and are strictly based on residential sales only (does not include farm/ranches or land). These numbers are deemed accurate but not reliable.

If you would like more information on a specific area that you live in, please do not hesitate to contact me.

Malisa Spivey
Key Real Estate Services
E-PRO, SFR – Realtor/Property Manager
515 N. Hewitt Drive * Hewitt, Texas 76643
(254) 495-7735 – Cell
(254) 523-4247 – Fax